From Investing.com

July 11, 2024 07:30 AM:

Bitcoin has a history of making big moves after periods of consolidation, as shown by historical data dating back to 2010. Previous instances of consolidation were followed by significant price spikes, such as the jump from $16 to $739 in 2013 after stabilizing around $230. Currently trading at $58,000, Bitcoin’s recent consolidation could signal another surge.

Analyzing daily price fluctuations, Bitcoin’s price recently found support at the 200 EMA, indicating a possible bottom. Trading above the 100 EMA suggests a bullish trend, with volumes increasing as prices rise. This volume pattern typically signals the start of an upward trend. Combined with historical quarterly price movements, Bitcoin appears poised for another significant move.

Read more at Investing.com: Bitcoin (BTC) 400% Surge Ahead? History Says Yes By U.Today